Re: OMC 5.0 Cobra V8, is this a good engine?
Almost forgot, GET THE SERVICE MANUAL! It has everything you need to keep that engine and outdrive maintained and at peak performance. I got the clymers manual and I think it is really easy to understand and put to use, even for those that don't have experience turning a wrench. Since your buying used, check the gear oil for water and engine oil for water. If either look milky, hit the classifieds. On the test drive, put your hand on the risers. They should be cool or at most luke-warm. If you can't keep your hand on it, hit the classifieds. If you can manage to get a compression check done before you buy it, it would be a good idea. If you find problems there, again, hit the classifieds. If you find any of these main systems to have problems, its probably not worth the effort unless you have the parts and knowledge to do it yourself.